Appointment

Interregnum PLC
7 December 2001

Friday 7th December 2001



PRESS RELEASE
                               INTERREGNUM PLC

       Ian Taylor MP appointed Managing Director of Corporate Venturing


Interregnum plc ('Interregnum'), the IT investment and advisory company, today
announces that it has appointed Ian Taylor MP (for Esher and Walton), the
former DTI Minister responsible for the UK's IT sector from 1994 to 1997, as
Managing Director of its Corporate Venturing division at Interregnum with
immediate effect.



Ian joined Interregnum in October 2000 as a non-executive director and now
assumes an immediate executive directorship role.



Interregnum's Corporate Venturing division has been established to foster
'cross-sector' corporate venturing partnerships between non-technology
businesses and early stage IT firms to achieve a range of benefits. These
include the strategic and tactical application of leading-edge technologies to
achieve competitive advantage, as well as to source attractive investment
opportunities.



Interregnum has a proven track record in corporate venturing dating back to
the spin off of adaptive from Abbey National in 1996 and the publication of
its seminal report, 'Cross-sector Corporate Venturing: The Opportunity', which
was produced in 1999 in partnership with Computer Weekly and Certus.



The Corporate Venturing division will operate alongside the existing Venture
Marketing, Venture Capital and Research and Consulting divisions.



Ian Taylor (who was in investment banking for 18 years before entering
Parliament in 1987) is currently a director of the following companies:


-     Screen plc           -     EURIM (European Information  
                                 Society Group Ltd.)
-     OneMonday Group plc  -     Fentiman Consultants Ltd.
-     Speed-trap Ltd
-     Radioscape Ltd.      -     Hudson Venture Partners Ltd



He has, within the previous five years, been a director of the following
companies:


-     Navision Software (UK) Ltd.
-     Technology Two Thousand Ltd   -   Satellite Observing Systems Ltd





                                                                       More...

As a result of his executive role, Screen plc, RadioScape Ltd and Speed-Trap
Ltd will become clients of Interregnum.



Commenting on this appointment, Ken Olisa, Chairman of Interregnum, said:



'We are delighted that Ian has agreed to increase his contribution by taking a
more executive role. His unparalleled experience in technology, finance and
European economic affairs makes him ideally qualified to spearhead our
Corporate Venturing activities across Europe.



'We believe there are considerable international opportunities for
'cross-sector' corporate venturing, where corporations are operating in an
increasingly competitive environment and require the professional expertise
Interregnum offers in advising them on investment partnerships with early
stage IT firms.  We believe that Ian's new role will add considerable momentum
to our plan to become the leading pan-European IT investment and advisory
firm.'





                                   - Ends -



For further information please contact:


Interregnum plc                                  Tel:     [phone]
Ken Olisa, Chairman
Pip Creed, Senior Marketing Executive


Merlin Financial                                 Tel:     [phone]
Paul Downes/Vanessa Maydon





NOTES TO EDITORS


Interregnum plc


*  Interregnum plc ('Interregnum') is an IT investment and advisory
   company.  It works with high-potential IT entrepreneurs to develop, resource
   and implement aggressive, marketing-led, value-building strategies which '
   transform technology into wealth'.



*  It provides both intellectual and financial capital to companies from
   conception to exit including:

   -  Venture Marketing: working as non-executive directors with IT
   companies to develop, fund and implement aggressive business strategies;

   -  Research & Consulting: working with innovators and investors on
   specific projects where the critical analysis or development of strategies is
   involved;

   -  Venture Capital: co-investing with institutional and private
   investors.  Interregnum is also raising a £75 million venture capital fund.


*  Interregnum - (www.interregnum.com) is headquartered in London with
an office in San Francisco, USA, and associates in Silicon Valley and New
York.  The company currently employs 29 people.


*  It currently has a portfolio of over 30 IT and IT-related investments
with holdings principally in hardware, software, services and internet
infrastructure businesses.



*  Its recent investments include:

   -  Adaptive: £500,000 in an enterprise repository software firm

   -  Respond: £2 million in a CRM software and services vendor

   -  Nanomagnetics: £500,000 in an information storage materials company

   -  Computerwire: £500,000 in an online IT intelligence researcher and
   publisher

   -  Vocalex: £1 million  a speech recognition software company

   -  Yospace: £750,000  a market leading wireless technology software
   company

   -  Link: £1 million  a developer of web-based collaborative software


*  Interregnum floated on the Alternative Investment Market ('AIM') in
March 2000.  At 5 December 2001, it is capitalised at £22.5 million.